M&T Bank Corp Decreases Position in Teleflex Incorporated (NYSE:TFX)

M&T Bank Corp lowered its position in shares of Teleflex Incorporated (NYSE:TFX) by 23.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,926 shares of the medical technology company’s stock after selling 581 shares during the period. M&T Bank Corp’s holdings in Teleflex were worth $266,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its position in shares of Teleflex by 4.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,173,121 shares of the medical technology company’s stock worth $1,098,693,000 after buying an additional 261,279 shares during the period. Geode Capital Management LLC lifted its stake in shares of Teleflex by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,138,867 shares of the medical technology company’s stock worth $202,161,000 after purchasing an additional 8,307 shares during the period. Invesco Ltd. raised its stake in Teleflex by 48.1% during the 4th quarter. Invesco Ltd. now owns 1,068,593 shares of the medical technology company’s stock worth $190,188,000 after acquiring an additional 347,003 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Teleflex by 38.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 590,529 shares of the medical technology company’s stock valued at $105,102,000 after buying an additional 162,950 shares in the last quarter. Finally, Norges Bank purchased a new stake in Teleflex during the 4th quarter valued at approximately $100,328,000. Hedge funds and other institutional investors own 95.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TFX. Royal Bank Of Canada set a $130.00 price objective on Teleflex and gave the company a “sector perform” rating in a report on Tuesday. Mizuho lowered their price target on Teleflex from $150.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday. Truist Financial decreased their target price on Teleflex from $140.00 to $137.00 and set a “hold” rating on the stock in a research note on Monday, May 5th. Morgan Stanley reduced their price target on Teleflex from $191.00 to $173.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Finally, Wall Street Zen lowered Teleflex from a “buy” rating to a “hold” rating in a research report on Sunday, June 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $159.63.

Teleflex Stock Performance

Teleflex stock opened at $113.70 on Friday. The firm’s fifty day moving average price is $120.99 and its 200-day moving average price is $141.97. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.32 and a current ratio of 2.28. The stock has a market cap of $5.02 billion, a P/E ratio of 35.87, a price-to-earnings-growth ratio of 1.78 and a beta of 1.08. Teleflex Incorporated has a fifty-two week low of $112.32 and a fifty-two week high of $249.91.

Teleflex (NYSE:TFX) last announced its earnings results on Thursday, May 1st. The medical technology company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.88 by $0.03. The firm had revenue of $700.67 million for the quarter, compared to analyst estimates of $699.37 million. Teleflex had a net margin of 4.96% and a return on equity of 14.73%. The company’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.21 EPS. On average, equities research analysts expect that Teleflex Incorporated will post 13.98 earnings per share for the current fiscal year.

Teleflex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Tuesday, May 20th were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Tuesday, May 20th. Teleflex’s dividend payout ratio (DPR) is 42.90%.

About Teleflex

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. The company provides vascular access products that comprise Arrow branded catheters, catheter navigation and tip positioning systems, and intraosseous access systems for the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site.